How do I convert bitcoins into USD? I heard that you have to

i would suggest that you don't do this.

printing your own money is a federal offense.

>>1480408
if youre trying to imply that bitcoin can't be converted to USD because it was mined out of no where then explain how livestock and food can be sold for USD.

>>1480404
if you're OK with giving uncle sam his share, then just cash out through coinbase, report all taxable events (almost any transaction with bitcoin for non-business users) on your taxes, and you're done and safe in an audit. you also need to record USD value of mined coins, if you do mine/get them for free, at the time they were acquired to calculate the cost basis and report them once they are sold.

If you don't want to report anything to the IRS, I don't have a good answer for you. I'd probably start with btc-e.

>>1480413
livestock and food have a use

>>1480404
What about Localbitcoins.com?

Buy gold bullion at a USD value loss and write it off as a loss.

>>1480861
>almost any transaction with bitcoin for non-business users
What does this mean for altcoin traders? How can they possibly keep track of gains against a changing btcxusd value (or even other pairs ltcxbtc).

>>1481119
you have to record your cost basis in USD at every conversion using a consistent method, that is what the IRS has stated. it's a lot of work but it's possible, I have it 90% automated.

>>1480865
So does BTC. And so does the 3% fee on every VISA transaction.

>>1481406
So what if you never recorded any of this information over a span of a few years and you finally decide you want to cash out?

>>1481420
then you're fucked

either look at historic charts and make the calcuations, or try to cash out and not get caught